It is well acknowledged by McKinsey & Co that “family businesses are more present and stronger than ever”. There are numerous of family businesses with presence around the globe, varying in any size. In fact “around one-third of the Fortune Global 500 companies are founder or family controlled, as well as around 40% of all the major listed companies in Europe”
Family businesses have a key advantage in the global market, which is operational agility, one that must kept safe as it makes a significant differentiation. Keeping safe the agility level is a measure to establish, for instance, hyper personalization of customer services. However, family businesses have their own trade-offs which should overcome, towards flourishing.
The need for a Business Process Management Software.
Maintaining agility is a key element for Family Businesses, usually encompassing the existence of a platform that creates a modern digital environment, establishing a strong real-time online collaboration between peers. Similarly, acquiring a market share might be a temporary win unless the competitive advantage arising from the implementation of fast, accurate, mistaken-proof, tailor made services will be kept safe. How that can be utilized? We’re in the beginning of a new ERA, where smart New Generation BPM Platforms impose intelligence and provide the vehicle for Digital Transformation.
Next Generation BPM platforms for Digital Transformation.
Traditional BPM software offer a high-level workflow design, usually with BPMN2.0, with inevitable lack to match theory with practice, in other words struggle to bringing to life series of business rules during business run Here’s where next generation Business Process Management (BPM) platforms come in place, becoming the heart of a central system that automates smartly the work among teams.
What’s in a Next Generation BPM for Family Businesses?
There are several benefits arise for Family Businesses (and not only them), using the latest technology of low-code BPM software. The output is highly connected with business performance improvement, utilized by:
- An Intelligent Process Engine
- Digital Collaboration and Content creation/share
- Effective People/ Personnel Management
- Advanced Business Analytics
- Business Apps “off-the-self”
- Integration Bus to get connect/ retrieve information from any system
- App Development Environment, truly available for Business users
Conclusively, the path to sustainable growth crosses the need for business intelligence, automation, systems unification and enhanced functionality over a common platform, one that enables business users to take control of horizontal operations with the less need of technical skills required. This is a recipe for maintaining agility, promptness and operational flexibility.